Melbourne Unit Entitlement Service
If you own a strata property and are looking for a valuation of your unit entitlement in Melbourne, Valuation VIC are the independent property valuers for you. We have valuers that specialise in valuing all types of strata properties. Including residential, commercial, mixed-use and land only.
For those that are unfamiliar, a unit entitlement valuation is the valuation of a single lot that is a part of a property that has been sub-divided. Before any of these lots can be sold or any Certificates of Title can be handed out, the owner of the Strata scheme must first have each lot valued to form its unit entitlement.
The strata unit entitlement tells the owner of the individual lot how much voting power they have for matters that affect the entire strata. Many strata have an owner’s corporation or a body corporate to manage these matters. It is in their meetings that this voting may take place. This is not all unit entitlements provide. A strata unit entitlement also dictates the amount the strata unit owner must pay in levies and fees to contribute to the strata.
If a strata unit entitlement is ever inaccurate or if it was improperly done, then the owner of the entitlement can request a unit valuation. This is not often done as many do not know how to change a strata unit entitlement or that they need to. Unit entitlements of strata properties can be changed for several reasons. This may include discovering that your unit entitlement is the same as a unit in the same strata plan that is much larger than your own. When wanting to change your unit entitlements, it is recommended to seek the advice of both a lawyer of strata properties and an independent property valuer.
Unit Entitlements in Melbourne
We have many valuers that specialise in unit entitlement valuations and other valuations for strata. This includes building insurance valuation, which is required by law for all strata properties to have.
There are strata properties that do not have any buildings or structures built on the land. These are called a Survey-Strata. These types of strata are land only. A property valuer will need to have the right expertise to complete valuations of strata properties. For unit entitlements, these valuers will need to be able to complete Form 3 document in accordance with the Strata Titles Act 1967.
Our valuers have the right requirements and qualifications to perform valuations for all types of Strata properties. All valuers on our team have been accredited by the Australian Property Institute (API) as a Certified Practising Valuer (CPV). Adding to this, they are also members of the Royal Institution of Chartered Surveyors (RICS), which means all valuations are compliant with their internationally recognised standards of professional valuations.
The valuers of Valuations VIC are some of the most experienced valuers in all of Melbourne and greater Victoria. While valuers that have been certified by the API have at least 2 years of experience, our valuers each over 20 years. That is more than 10 times the experience, required for certification. This means you can certainly trust the quality of our work.
If you would like more information about unit entitlement valuations in Melbourne, our experts are available to take your call. You can reach us at, (03) 9021 2009. If you prefer to write, feel free to use our convenient online contact form to get in touch.